What’s the Value of Social Media?

MediaBistro comments on a report that Nikkei, a Japanese newspaper, has limited linking. “In order to link to the paper’s site, readers are required to first fill out a rather detailed written application, explicitly stating their extended purpose for linking to the Web site’s home page…The paper said they’re worried that certain other sites might “manipulate” their business stories to the extent that they run the risk of “inaccurately affect(ing) financial markets.””

The New York Times reports that some other Japanese newspapers are limiting content on their websites. The article says: “ “Japan’s papers have seen their American counterparts suffer by offering everything for free,” said Yoshihiro Oto, a journalism professor at Sophia University in Tokyo. “They’re convinced openness doesn’t work.” For now, the print-focused strategy seems to have helped the industry.”

I want to know: What about the value of viral, the currency of social media? Do these publishers not get it? Or are they smarter than the US papers that “let the cat out of the bag” with free content? – Kathy Sandler